Brazil's credit quality s to pre-crisis levels

13:17, April 20, 2010      

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Brazil's credit quality has returned to pre-crisis levels, said a report released by the consulting company Serasa Experian on Monday.

The Serasa Experian indicator of the quality of the credit to consumers grew up 0.7 percent in the first quarter of 2010 compared with the previous quarter, said the report.

It reached 79.2 points, returning to the level registered in 2008, when the global financial crisis had not yet affected Brazil, said the report.

It was the second consecutive rise in the quarterly quality of credit figures, which reached a record low in the third quarter of 2009.

According to the report, the recent improvement of the country's credit quality is largely due to the recovery of the job market. The country's economy generated 995,000 jobs in 2009 and a record high of 657,200 jobs in the first quarter of 2010.

The rise should also be attributed to the fall of the interest rates during the second half of last year, which made financing operations become more accessible to people.

The indicator goes from zero to 100. The higher the value, the better the credit offered in the country.

Source:Xinhua

(Editor:黄蓓蓓)

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